IEA: OPEC Must Extend Cuts To Balance Oil Markets
It has long been the suspicion of many oil market analysts that the U.S. shale industry was likely too nimble for OPEC to really hammer it into oblivion. That proved Continue Reading
Libyan Oil Liberator Aims To Boost Russian Ties
In a sign that Libya’s powerful military is moving closer to Russia, Libyan National Army (LNA) commander Khalifa Haftar—the man responsible for recapturing the country’s oil ports and essentially restarting Continue Reading
Libya’s Sharara oilfield output dropped after security breaches: engineer
Production at Libya’s Sharara oilfield dropped to between 130,000 and 150,000 barrels per day (bpd), from about 280,000 bpd, because of recent security breaches, an engineer who works at the Continue Reading
Protesters drag Shell Niger Delta oil facility shutdown into fifth day
Protesters on Tuesday dragged the shutdown of a Shell crude oil facility in the Niger Delta into its fifth day, after storming the flow station demanding jobs and infrastructure development Continue Reading
Cuban trade with Venezuela plunges over two years
Cuban trade with socialist ally Venezuela has fallen 70 percent since 2014 due to the South American oil producer’s inability to meet delivery contracts and purchase goods as it struggles Continue Reading
Asia Takes The Lead In The Hyperloop Race
Elon Musk’s orphaned hyperloop project may soon be Asia’s next transportation superstar, but competitive prices from fossil fuel-heavy options could derail the new technology’s business model. CEO Dirk Ahlborn of Continue Reading
China’s energy demand to peak in 2040 as transportation demand grows: CNPC
China’s energy demand will peak by 2040, later than the previous forecast of 2035, as transportation fuel consumption continues to rise through the middle of this century, state-owned oil major Continue Reading
US To Sell 14 Million Barrels Of Crude Oil From Emergency Reserve
The U.S. Department of Energy said on Tuesday it will sell 14 million barrels of crude oil from the nation’s emergency reserve in late August. The sale from the Strategic Continue Reading
Pullback in U.S. fracking sand use pressures producers
U.S. shale oil companies are pulling back on the amount of sand they use to hydraulically fracture new wells, responding to rising prices of the material that are driving up Continue Reading
America’s Shale Natural Gas Production Is Taking Off – Sort Of
America’s shale gas production is about to surge 12 percent. Sort of. The Energy Department issued a report Monday estimating that the nation’s prolific shale formations will yield 59.4 billion Continue Reading